Re: The SHM is Friday...Teremoto
in response to
by
posted on
Apr 23, 2007 07:16PM
I understand your concerns with the BoD. You'll note that I had very little to say about the BoD. The point I was makeing had much more to do with complaints about S&L.
But I will say one thing about the BoD, specifically the thought of removing representatives of S&L from the BoD. IMO, such an effort by shareholders right now (which I KNOW ain't happenning, and isn't intended/expected) may equate to "shooting ourselves in the foot". Note the emphasis on "right now". Actually, it applies for the foreseeable future.
Think it through..... S&L IMO is cooperating to a large degree these days. Why? Control. All those shares and warrants they have tied up in PTSC, but they have a level of control over PTSC, and thus over their "PTSC Wealth".
Remove that level of control over their investment/wealth, and what do you think they'd do? What would you do if you had essentailly $30M sitting there and you had no control over it? Yup, you'd probably sell out and run.
And what would that do to PTSC? 40M shares dumped all at once.
So the point I'm making when it comes to desires for S&L reps/pawns to be removed from the Bod is "be carefully what you wish for because you might just get it".
So take action to remove them, get 'em outa there, raise your hands high in the glory, then touch your toes. This will place you in the appropriate position for what is about to happen to you, IMO.
Sometimes an idea (e.g., removing S&L pawns from the board) sounds real good on the surface. But if you think it through, it's a really bad idea.
JMHO,
SGE